The following table reconciles net income, the most comparable GAAP financial measure, to Adjusted EBITDA.

Adjusted EBITDA

EVI Industries, Inc.

Condensed Consolidated Earnings before Interest, Taxes, Depreciation, Amortization, and Amortization of Share-based Compensation (in thousands)

Type

Unaudited

Unaudited

Unaudited

Unaudited

9-Months

9-Months

3-Months

3-Months

Ended

Ended

Ended

Ended

03/31/23

03/31/22

03/31/23

03/31/22

Net Income

$7,821

$2,587

$2,750

$40

Provision for Income Taxes

2,952

851

998

23

Interest Expense, Net

1,719

390

717

125

Depreciation and Amortization

4,409

3,795

1,497

1,319

Amortization of Share-based Compensation

2,267

1,947

785

627

$ 19,168

$ 9,570

$ 6,747

$ 2,134